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��15�1��4 � � ASSIGNNIENT �F RENT� L�an Nv: 1�'i�83�9a ��ntMnued} Page 3 LENDER'S EXPENDITURES. [� any action or proceeding is �ommenced that would materially affect Lender's interes� in �he Prape�ty or if Gran�or fails�❑ comp�y with any pravision ❑�this Assignmen�❑r any Reia�ed Dv�umen�s, including but no�limi�ed�❑ Granfiar's failure to djscharge ❑r pay when due any amoun�s Grantor is required to discharge ar pay under this Assignm�nt or any R�lated ❑ocuments, Lender on Grantor's behalf may 4but shall not be alaligafied �o} �ake any a��ion �hafi Lender deems appropriate, inc�uding �u� nat limi�ed ta discharging or paying all fiaxes, liens, security interests, encumbran�es and ❑�ther-claims, at any time le�ied ❑r pla�ed on the Rents ❑r�he �roper�y and paying all �os�s �or insuring, maintaining and preser�ing the Proper�y. All su�h expenditures incurred ❑r paid by Lender �o�- such purposes will then bear in�erest a��the rate charged und�r the Na�e�ram the da�e incurred ❑r paid by Lender�a fihe date vf repaymen� by Gran�or. A1� such expenses wil[ becvme a part of�he �ndeb�edness and, a� Lender's op�ivn, will �A� be payable ❑n demand; �g� be added �❑ �he halance a��he Nofie and be apportioned among and he payable with any ins�allment paymenfis to be�vme due during either �1} �he term of any applicable insuran�e p�[i�y; or {2� �he �-emaining �erm of the Not�; or �C} be treated as a ball��n payment which wi[I be due and payaI�[e at the No�e's maturi�y. The Assignment alsv will secu�-e paymen�of these amounts. 5uch right shall be in additian tv all other righ�s and remedies�❑whi�h Lender may�e en�ifiled upon ❑efaul�. ' ❑EFAC]LT. Each af�he fallowing, at Lender's op�ion, shall cans�titute an E�en�❑f❑e-�au�t under this Assignment: Payment Defaul�. Gran�vr fails t❑ make any paymen�when due under�he lndei�tedness. ��her Defaul#s. Grantvr fails ta camply wi�h or �o per�v�m any ❑�her �e�-m, abliga�ion, ca�enant or condi�ion contained in �his Assignmen� �r in any of the Re[ated �3ocumen�s �r ta comply wi�h ❑r to perfvrm any term, obliga�ion, ca�enant or candi�ion cantained in any other agreement�etween Lender and Grantvr. Defaul�❑n Other Payments. Failure of Granto,r within the fiime requir�d by this Assignment ta make any paymen� far taxes❑r insurance, ❑r any o�her payment necessary to preWent filing ❑f or�a ef�FeGt discharge of any�ien. . Fa�se Statemen#s. Any war�-anty, represenfiafiian �r s�a�emen� made or furnished �o Lender by Grantar or vn Grantvr's behalf under this Assignment or the Re[ated Documents is �a[se ❑r misleading in any ma�terial respec�k, ei�her now or afi the time made vr turnished ❑r laecomes false or misleading at any time�hereafrt�r. De�ective Cvlla�eraliza�ion. This Assignment or any o�F�he Related Dacumen�s ceases fiv he in �ull �orce and ef#ec� {including failure of any colla�eral dvcument�a creafie a valid and perfec�ed security interes�or lien} at any time and for any reason. Death ❑r �nsolvency. The dissa[u�i�n ❑f Gran�or's {r-egard�ess o� whether elec�ian �o con�inue is mad�}, any member withdraws fram �he limi�ted liabili�y company, ar any ❑ther termina�ivn ❑f Granto�-'s existence as a going business ar the death ❑� any member, the insol�ency of Gran�or, �he appointmen� of a receiWer �vr any part of Grantor's prvper-ty, any assignment far �he benefi� ❑f creditors, any fiype ❑f credi�or wvrkout, ❑r the �ommen�ement of any proceeding under any bankruptcy vr insol�ency laws by or agains�Grantar. Creditvr ❑r Forfei�ure Proceedings. Commencement af �fare�losure or �for�eiture proceedings, whe�her by judicial proceeding, sel�--help, repnssessian❑r any o�her method, by any creditor vf Grantor a�-by any go�ernmenfial agency against �fihe Ren�s ❑r any property securing the lndeb�edness. This includes a garnishment o� any ❑f Cran�tor's ac�oun�ks, inc�uding deposit accaunts, wi�h Lender. Hawe�er, th�s E�ent af ❑efault shall no� apply i� there is a gaad �aith dispute by Grantor as�o�he validi�y❑r reasonabl�ness ❑f�he claim which is the basis af�he cr�difiar o�- �vr�ei�ure proceedEng and if Gran�or gi�es Lender written nv�i�e vf�he credi�tor❑r forfeifiure proceeding and deposi�s with Lender mvnies or a sur��y bond fnr the c�-edifio�-�r forfeiture proceeding, in an am�un�de�ermined hy Lender, in its sole discre�ion, as heing ari adequate r�ser�e or bvnd for the dispu�e. Proper�y Damage❑r Loss. The Praperty is [ast, stolen, substantially damaged, sold, or borrvwed against. Even�s Affect�ng Guarantor. Any o�the preceding e�ents accurs with r�spec�tv any guarantar� endorser, sure�y, ❑r accommvdatian par�y ❑�f any vf the lndeb�edness ❑r any guaran�or, endorser; surety, or accommodatEan party dies or becomes incompeten�, or re�okes ❑r disputes the �alidi�y ❑�f, v� liahility under, any Guaranty a�F the �ndeE�tedness. Ad�erse Change. A material adverse change occurs in Gran�or's �inan�ial candition, or Lender believes the praspect��paymen�❑r performanc�of�he Endelatedness is impaired. Insecurity. Lender in good faith be�ie�es i�self insecure. Cure Prvvisivns. lf any de�ault, ❑ther than a de�au�t in payment is curable and if Grantor has nofi been gi�en a notice of a hreach ❑f the same pro�ision of this Assignm�nt within �he preceding twel�e {12� months, i�t may be cured i# Grantvr, after L�nder sends wri�ten no�ice to Gran�or demanding cure o�f such de�auE�: �'l} cures �he de�ault wi�hin fifteen ��5� days; or �2} if the �ure requires more�han fif�een ��5} days, immedia�ely initia�es steps which Lender deems in Lender's sole dis�re�ion to be sufificien� to �ure the defauft and ther�after can�inues and c�mpletes all reasonable and necessary s�eps su#ficien�k to produce compliance as soon as reasanably practica�. R�GHTS AND REMEDIES �N DEFAULT. Upon the❑ccurrence o�any E�en�o�F Defaul�and at any time thereaffer, Lender may exercise any vne or more o�the following �-igh�ts and rernedies, in addition to any ofiher righ�s ❑r remedies pro�ided by�aw: Accelera#e lndebtedness. Lender shall ha�e �he right at its ❑p�ion ta decla�e the entire Indeb�edness immediately du� and paya�le, inc�uding any prepayment penalty fihat Grantor would be required t❑ pay.